CoreSite Realty (NYSE:COR) announced its quarterly earnings results on Wednesday, February 6th. The real estate investment trust reported $1.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.26, Bloomberg Earnings reports. The firm had revenue of $139.10 million for the quarter, compared to the consensus estimate of $139.89 million. CoreSite Realty had a return on equity of 20.97% and a net margin of 14.31%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.18 earnings per share. CoreSite Realty updated its FY 2019 guidance to $5.21-5.31 EPS and its FY19 guidance to $5.21-$5.31 EPS.
NYSE COR traded up $0.93 on Friday, hitting $103.18. 255,710 shares of the company’s stock were exchanged, compared to its average volume of 318,473. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.15 and a quick ratio of 0.15. CoreSite Realty has a 52 week low of $82.64 and a 52 week high of $117.82. The stock has a market capitalization of $3.87 billion, a PE ratio of 20.39, a PEG ratio of 1.45 and a beta of 0.72.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research cut CoreSite Realty from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Cowen restated a “hold” rating and set a $106.00 price objective on shares of CoreSite Realty in a report on Sunday, February 10th. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of CoreSite Realty in a report on Thursday, February 7th. Jefferies Financial Group restated a “hold” rating and set a $100.00 price objective on shares of CoreSite Realty in a report on Friday, February 8th. Finally, JPMorgan Chase & Co. cut CoreSite Realty from a “neutral” rating to an “underweight” rating and set a $95.00 price objective for the company. in a report on Monday, February 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $112.86.
In other news, CAO Mark R. Jones sold 600 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $105.42, for a total transaction of $63,252.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,021 shares in the company, valued at $1,583,513.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Steven James Smith sold 3,200 shares of the company’s stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $100.00, for a total transaction of $320,000.00. Following the transaction, the senior vice president now owns 44,736 shares of the company’s stock, valued at $4,473,600. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
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About CoreSite Realty
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,350 of the world's leading enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads.
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